LAHORE: The Federal Investigation Agency (FIA) on Sunday arrested Muslim Commercial Bank (MCB) vice president Asim Suri on charges of influencing witnesses in a money laundering case against PML-N president Shehbaz Sharif and others, Daily Times has learnt, citing sources.
Suri and MCB Group Head Azhar Mahmood were allegedly coercing prosecution witnesses, including bank officials, into changing their statements in the case, the sources revealed. They said an FIA team has been dispatched to arrest Mahmood as well.
Shehbaz Sharif and his son Hamza Shehbaz are facing charges of laundering ill-gotten funds worth Rs25 billion using the Ramazan Sugar Mills and Al-Arabiya Sugar Mills. Both father-son duo are out on bail. An investigation into the money laundering charges against Shehbaz and members of his family revealed that his assets increased from Rs14.86mn to Rs7328mn in the past 20 years.
Shehbaz made properties worth Rs619.85 million which include three homes; 96-H Model Town residence, Defence house and Doonga Gali house. The declared assets by the PML-N president and his family in the year 2018 had gone up to Rs584 million while the latter had also succeeded in forming a proper money laundering set up in 2018.